Accounting program producing qualified, in-demand accountants

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1 IN THIS ISSUE Grads 3 Alumni involvement 4 Learning by doing 5 Mark Your Calendars... Accounting program producing qualified, in-demand accountants Penn State Behrend s accounting program is continuing to adapt and expand its course and degree offerings to help students match the demand and requirements for careers post-graduation. According to the Bureau of Labor and Statistics, careers for accountants and auditors are projected to grow 13 percent from 2012 to With the increase in the number of accounting jobs comes new requirements, especially for students looking to pursue a career in public accounting. In 2012, Pennsylvania and New York joined 47 other states in requiring students to have 150 credit hours in order to obtain their CPA licenses. Penn State Behrend has responded to this change with the creation of a Masters in Accounting (MPAcc). The program is set to begin in fall 2014 and will give students the opportunity to complete the 150 credit hour requirement, while earning a master s degree to become more competitive in the job market. While demand for accounting majors is growing, so are the number of students pursuing a business career. In order to gain a strong competitive advantage, students need to prove their soft skills. This includes being able to work in teams, solve problems, organize work, and communicate effectively. The Academic and Career Planning Center (ACPC), on campus, is working to help students make themselves marketable to employers with resume workshops, interview preparation, and internship and job searching assistance. According to Courtney Steding, ACPC, In the past year, two of the Big 4 accounting firms (Deloitte and PwC) have visited campus to interview Behrend students. In addition, both KPMG and Ernst & Young have posted numerous positions on the Nittany Lion Career Network. The future of Big 4 recruiting looks even more promising with connections being made by accounting faculty and the ACPC. If you're considering employment with the Big 4, get started early by applying to leadership programs - use their websites and NLCN to gather more information. Message from Andrea Kressler, Accounting Club president I hope you enjoy this issue of the Accounting newsletter. We hope to keep students and alumni up-to-date with how the Accounting major and club are developing and helping students gain success after graduation. In this issue, we discuss several events that help students build their network and expand their knowledge outside of the classroom. These events, such as the Happy Networking Hour, give students an opportunity to interact with graduates who can give them advice on how to achieve their educational goals. We are very fortunate to have such amazing alumni who reach out and volunteer their time to speak of their experience to students. The Accounting Club works to blend student, faculty, and alumni interaction in a way that enables students to gain perspectives on different career opportunities and resources available to them. Get involved today! BEHREND.PSU.EDU/BUSINESS Spring 2014 Newsletter

2 2014 Grads With graduation near, many seniors already have jobs secured. Below are three seniors who are taking different paths. They share what allowed them to stand out from other applicants and their advice for current students. LOUIS NEFF Future Position: Financial Management Program (FMP) member with GE Aviation in Cincinnati, OH a two -year, four-rotation leadership development program with new positions and coursework in each rotation and exposure to multiple areas of business. Competitive Advantage: Neff worked hard in previous internships, maintained a high GPA, and leveraged many possible networking opportunities. He believes that being able to identify what is required and focusing on that deliverable allowed me to accomplish a lot more than some of my peers. Many managers want just a sentence or two overview of what happened. You have to do the leg work and gain the understanding to effectively pitch that overview. Being able to interpret data and deliver information is key. Advice for Current Students: Say yes when asked to do something, even if you don t exactly know how to do it at that moment. Then talk to as many people and reference as much material as you need to figure it out and gain sufficient knowledge to get the job done. You never know from where your big break or next opportunity will come. Don t pass by anything that can give you an advantage. MARK RILEY Future Position: Financial Auditing Staff Accountant with Schneider Downs in Pittsburgh, PA, with a rotation in IT auditing for part of his first year. Competitive Advantage: I think the most important thing I did to get this position is diversify my major and minor (MIS) which really gave me an edge compared to someone who majored only in accounting. Being able to show them that I am technologically proficient, and understand what I am talking about with technology really helped. Advice for Current Students: Set goals, apply everywhere. Even if the internship is not in accounting, any internship is better than not having one. Also, if you re an accounting major and you don t have a double major or a minor, look into management information systems. Accounting these days is all on computers, with different software and ERP systems. CHELSI RIORDAN Future Position: Audit Associate at KPMG in Pittsburgh, PA. Competitive Advantage: Throughout the recruiting process, everyone seemed to comment on my dual majors in accounting and finance. This is one of the many advantages of attending Penn State Behrend. Many schools, including University Park, do not offer dual majors. Another reason that I was set apart from other candidates was the fact that I have already had work experience. Start early! It is never too early to get experience. The opportunity is there; you just have to look. I have two internships on my resume, with one being in public accounting. I will also graduate with the 150 credit hours that are required to get my CPA license. It is very hard to be considered for any of the Big 4 if you do not graduate with the 150, or have a plan to get the 150. Advice for Current Students: Start early! It is never too early to get experience. The opportunity is there; you just have to look. If you plan to become a CPA, meet with your adviser to put a plan in place to graduate with the 150 credit hours that are required. It will save you money, time, and it will set you apart when you put that on your resume. Don't be afraid to ask the professors for help and/or advice in regards to plans after graduation. We have an amazing group of business professors who are willing to help. They want you to get a job just as bad as you do. BEHREND.PSU.EDU/BUSINESS Spring 2014 Newsletter 2

3 Alumni Update MIKE BERGSTROM 09 ALUMNI PANEL Employer: The Pennsylvania Cyber Charter School Title: Admissions Representative What do you like best about your job or your employer? I really enjoy the one on one interaction with the prospective students and families. I couldn t ask for a better company to work for. Everyone is extremely knowledgeable and helpful and always willing to answer any questions that I have. I don t know that I ve ever seen a more dedicated staff that really focuses on making sure that each student has a great experience here. What would you go back and tell your college self, if you could go back in time? Be more aware of opportunities such as internships, resume-building workshops, and mock interviews. These are all things I wish I had taken advantage of while in school. Also, just to follow your heart as far as your major goes. Yes, the expected salary and benefits of a particular career may look good then, but what you have to ask yourself is will you really be happy every day going in to work? What advice do you have for students who are looking for their first post-college job? Do not get discouraged. It takes time and not everyone finds that perfect job right away. Always keep trying and don t give up. Try to network and make some connections; it will help out in the long run. Be yourself during interviews and let them see your personality, and just never give up, because persistence pays off eventually. Be more aware of opportunities such as internships, resume-building workshops, and mock interviews. Mike Bergstrom 09 On Wednesday, February 26, the Accounting Club hosted an alumni panel discussion. The panel consisted of five recent graduates, all in various positions within the accounting field: Chris Elliott, ACNTG '09, manager of budgeting and forecasting at Barber National Institute Lauren Schau, ACNTG '09, project manager at Erie Insurance Group Shawn Giewont, ACNTG '10, partner at Brink & Giewont CPAs Dan Wagner, ACNTG '10, assurance senior at Ernst and Young Taylor Catalfu, ACNTG '13 staff accountant at the Economic Development Corporation of Erie County The moderated discussion focused on the panelists current positions and what a typical day at their job was like. From a variety of work places, they described the advantages and disadvantages of working at a large or small firm, as well as what they liked and disliked about their positions. When asked what they would do differently if they could back to their college years, almost all replied that they would have built better relationships with their classmates and created a better balance between relationships and school. School should be the top priority, but it is important to make time to spend time for friends and family. After the panel overview, students asked questions and interacted with the alumni. The event was a great opportunity for Penn State Behrend students to learn about the possibilities the accounting major has to offer them, if they take advantage of their resources. BEHREND.PSU.EDU/BUSINESS Spring 2014 Newsletter 3

4 Learning by Doing ALUMNI NETWORKING Students, local alumni, and faculty members met in December for a night out at The Plymouth Tavern, in downtown Erie. This was a great social event, but also gave students an opportunity to meet alumni in the area, ask questions, and make connections. Faculty members enjoyed catching up with the recent graduates. With such a successful night, another Happy Networking Hour is scheduled for Friday, April 25. BLOOMBERG APTITUDE TEST The BAT is a two-hour, global standardized test designed to assess a variety of students abilities and comprehensive skills relevant to opportunities within the business world. Eight sections, including categories such as economics, math, and financial statement analysis, give students insight into their strengths and weaknesses against a global peer group, and can serve as a self-assessment tool. Students can be entered anonymously into the BAT database, which is accessible to more than 20,000 companies all over the world. Employers use this database for recruitment regarding internship and entry-level jobs. The test is free for all students, so take advantage of this opportunity. To register, visit takethebat.com, click on Register in the top right hand corner, and follow the on-screen instructions. BECKER EDUCATION VISIT Laura Martin, a representative from Becker Education, visited campus to discuss Becker s CPA exam study materials. Through Becker, students can choose to self-study, take online classes, or attend live classes all for the same cost. With a strong reputation of Becker students having double the pass rate of non-becker students, it is a great option for taking the CPA Exam. Martin brought sample study books and flashcards for students to review. She also led an interactive session, having students help answer sample questions from the actual Becker software. Students networking with alumni and faculty at the Plymouth Tavern. BEHREND.PSU.EDU/BUSINESS Spring 2014 Newsletter 4

5 MARK YOUR CALENDARS... Happy Networking Hour, The Plymouth Tavern, April 25, 5:30 p.m. This Friday event is scheduled to help our alumni who have more distance to travel; all of our alumni are invited to join current students and faculty for a night out! Appetizers will be provided, and cash bar available. T-Shirt Sales, March 31-April 4 The Accounting Club will be selling t-shirts. Stay tuned for more information and details on the sales. Andrea Kressler at [email protected] with any questions. Bloomberg Aptitude Test (BAT), April 9, Penn State Behrend The BAT is a two-hour global standardized test designed to assess a variety of students abilities and comprehensive skills relevant to opportunities within the business world. The test is free for all students, so take advantage of this opportunity. To register, visit takethebat.com, click on Register in the top right hand corner, and follow the on-screen instructions. NOTES... If you know of any events or news regarding accounting, and would like to see them in the newsletter, please contact Andrea Kressler at [email protected]. Penn State Erie, The Behrend College Sam and Irene Black School of Business Jack Burke Research and Economic Development Center 4701 College Drive Erie, PA 16563